The alternate has confirmed plans to halt deposits and withdrawals on Neo Legacy.
The phase-out will start on August 25, with an entire shutdown scheduled for October 15.
NEO has plummeted amidst neighborhood uncertainty.
The digital property panorama endured a massacre on Monday as the worldwide crypto market cap plunged 3.27% up to now day to $3.89 trillion.
Whereas most property replicate bear dominance, NEO suffered probably the most after Binance confirmed it could finish help for Neo Legacy.
Beginning August 25, the main alternate will now not help asset deposits via the NEO community and can halt withdrawals by October 15.
Binance will stop help for Deposits and Withdrawals of Tokens on the Neo Legacy Community.
Extra info 👇 https://t.co/ePyHc2Wv8j
— Binance (@binance) August 18, 2025
Furthermore, Binance won’t credit score any deposits made after the deadline.
The announcement magnified NEO’s decline.
The alt misplaced round 7.62% from $6.5012 to an intraday low of $6.0058.
Affected tokens
The halt choice will affect three key property: NEO, NeoGas (GAS), and Kepple (QLC).
Whereas GAS and NEO holders can use different Binance-supported platforms to transact, Kepple buyers encounter a harsher state of affairs.
The alternate has suggested holders to money out all QLC earlier than the October 15 deadline. The workforce emphasised:
It’s strongly really helpful for customers holding QLC tokens to withdraw their remaining tokens earlier than 2024-10-15 08:00 (UTC), as switch of property will stop after the shutdown.
What prompted Binance’s choice
The main buying and selling platform is thought for delisting initiatives that don’t meet sure requirements.
Nevertheless, Neo Legacy’s case is completely different.
Binance emphasised that the platform’s transition right into a extra superior model, Neo N3, triggered the suspension.
The Neo Legacy workforce introduced the community’s shutdown in April to give attention to the superior platform “designed to switch Neo Legacy.”
The official announcement learn:
As a part of our dedication to advancing Neo’s expertise and focusing our efforts on the long run, now we have made the choice to sundown the Neo Legacy Community.
In the meantime, Binance’s discover stirred the markets because it formalized the tip of Neo’s older system.
Nevertheless, the suspension may very well be a crucial step as dealing with two energetic platforms usually fragments person exercise and liquidity.
Specializing in Neo N3 would possibly type a cleaner ecosystem that may bolster adoption within the coming instances.
What’s subsequent for buyers
With the deadlines considerably tight, Neo Legacy customers could have to contemplate three major issues.
Firstly, any deposit accomplished to Binance by way of Neo Legacy after August 25 will result in asset loss.
Secondly, the alternate will droop withdrawals completely on October 15.
Lastly, fanatics ought to watch the native token’s efficiency.
NEO might plummet additional to check key value ranges as buyers search readability.
NEO value outlook
The alt displays vital bearishness at $6.06.
NEO makes an attempt to recuperate from earlier losses, however indicators sign sellers’ dominance.
The 3H MACD and RSI verify that bears management of NEO’s trajectory as they depict waning momentum.
Furthermore, the present broad market bias suggests additional value dips for NEO.
